This is not the first time that the govt has commented that S’poreans are better off keeping their money in CPF.
Frankly, only a few of the “CPF-approved” investment instruments are worth investing in considering that the _risk-free_ return one card earn from CPF.
Take for example CPF-approved unit trusts in S’pore – they charge high upfront charges (up to 5%) and annual management fees of up to 2% or higher.
Why doesnt CPF be more pro-active in pushing for low-cost investment products like index-linked funds which are so popular in the US/Europe?
I think the answer is obvious.

Those people who invested in the minibonds & highnotes should partly be responsible.

I wonder, if SWFs got into trouble, who will bail them out?

there are many SWFs in the world.

Hi, Loop, if your comment is correct, then the mini bond and high notes investors are fools, then the FIs must be the conmen. Because only the conmen will con the fool. So all the conmen must be punished by law.

“Otherwise, leave your money in your CPF … Four per cent is a fabulous return without risk. Singaporeans complained it was too low, (but) now they know the meaning of a capitalistic existence.”

I know “capitalistic existence” too well in the context of Singapore that I do not even want the garment to manage a SINGLE CENT of my CPF when I turn 55.

`The market does not exist to serve the interests of financial intermediaries. It exists to serve the public.” – Joseph Yam, CEO HKMA
.
“You need regulators to take a view. You need a health warning.” – Joseph Yam

Do you see any difference in attitude? To GCT the investors are fools. They should have left it in CPF. This is your problem if you have lost them in the ‘bombs’
No view , no warning. The view is” you should leave it in the CPF”
The answer is clear….No help from MAS.. we only know the art of Taichi ,. Bail out? TKK!!

Quoting Goh Chok Tong is giving him too much credit.

Before quoting him in future, there is a need to check if he is worth listening to.

I can only recalled that he treated his constituents in Marine Parade better than others when he was the Prime Minister, conversely, the citizens in Hougang and Potong Pasir were sidelined.

A partial man cannot be a fair main, an unfair man does not uphold integrity in the eyes of others.

patriot

Goh Chok Tong only cares about himself. Anyone that thinks he has the interest of Singaporeans at heart is a fool.

What do you expect GCT to say when his life-long bedding partner said $600,000 is peanuts !!!
Sad to say many fellas in Singapore are still sleeping like Rip Van winkle (is that correct? please correct me).

This is outrageous. How can he be so insentitive to the feelings of those who lost so much of their savings. These pap leaders are heartless. They have got
no human feelings.

i think all the advisers should go through every page of the investment contract word by word with the consumers. if the government has done their part by enforcing this rules strictly, let say by 70% will do, then a lot of consumers will not invest and they will surely invest in cpf only rather than those high 5 bonds. then the quote will be singaporean should learn to take more risk rather than always rely on government. so the chinese character for an offical, guan, has two mouth they can say anything.

the thing is if any government has not done their duty well to protect the citizen then next election we should surely not vote for them. but the thing is now it still not very close to election, i wonder if suitation will be different if it is near election with so many angry investors who are misled. but i still guess if it is the election time i might still do not have a chance to vote again, or will i ever have a chance to vote in my life time even if i live till 80 years old with all the GRCs. i think the MP which i vote for if i really have a chance, (currently i really feel i have little chance to vote in an election at my place bukit batok now or future), will speak out against those bad advisers or banks or insurances companies. MP in parliment please say something, do not keep so quiet when your voters needs you.

i read on newspapers that an old lawyer is going to fight a case to let bukit batok to have an re-election. he is so old and he never give up to help people. so many MPs are so young and rich yet they cannot stand up for their voters this is very very sad. in the end i can say lucky and unlucky. unlucky because i never get to vote for my bukit batok MP so i cannot say anthing. those citizen who has vote should voice out loud and clear. lucky is i learn that i must force all my advisers to go through all the contracts word by word with me and lucky i do not have an MP who i have ever voted into the parliment. if you have one and the MP never help you sad for you.

Well, you get what you pay for. 66.6% voted for him, so he has the mandate to say what he said. If you voted for him and now you do not like what he said then indeed that is life! If you want to have a better reward, then you have to take risks and vote for an alternative party. Otherwise, leave your money with us. Hehheh….

SM Goh’s remarks is indeed shocking. The question is not whether there is higher reward for accomodating more risk. but if retail investers were poached to take more risk beyond their understanding. Instead, he politicise the issue to garner more support for PAP policies instead of looking out for citizen’s welfare. SM Goh’s empathy is no longer with the public.

As Chair of MAS, SM Goh has already made up his mind to not deal with mini-bond victims.